China unlocked more fiscal stimulus, promising greater efforts to support consumption and cushion the impact of an escalating trade war with the United States on an economy that Beijing is determined to grow by another 5%-or-so this year.

China's economy has been hit by a housing market crisis in recent years, and is under increasing pressure from US tariffs.

China will aim to grow its economy by 5% in 2025 despite changes "unseen in a century" – namely a burgeoning trade war with the US – Premier Li Qiang said on Wednesday at the annual meeting of China's parliament.